Improving Business Performance: A Project Portfolio Management Approach, 1st Edition (Hardback) book cover

Improving Business Performance

A Project Portfolio Management Approach, 1st Edition

By Ramani S

Auerbach Publications

216 pages | 10 Color Illus. | 8 B/W Illus.

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pub: 2016-02-09
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Description

No organization is impervious to change. Rather, the survival and growth of an organization is dependent on how well it copes with change. Successful change initiatives consist of the integrated eco-system of its portfolio, programs, and projects. These change initiatives become the delivery mechanisms for implementing the strategy of an organization.

Improving Business Performance: A Project Portfolio Management Approach clarifies how the proper application of portfolio, program, and project management concepts can help commercial and non-profit organizations achieve their strategic objectives. Most organizations have been good at devising strategy, but falter during its implementation. Executing strategy well to deliver superior business performance remains a key challenge, which is addressed as the core theme of this book.

The book portrays a top-down orientation as well as a bottom-up integration of change initiatives to facilitate alignment to strategy and accommodate mid-course changes. It takes into account existing global best management practices to bring forth an approach that is customizable and useful to organizations in any industry.

Describing why portfolio management lies at the apex of change initiative management, the book explains how to design and fine-tune portfolios so they are in alignment with your organization’s overall strategy and business needs. After reading this book, you will understand:

  • How to design the project portfolio structure for your organization
  • How to integrate programs and projects within the portfolio more effectively
  • How to better manage interactions across diverse change initiatives
  • How to maintain focus while managing change to realize benefits

The book presents a case study that illustrates the application of project portfolio concepts in practical scenarios. It includes chapters dedicated to transition management, change management, benefits management, and the Enterprise Project Management Office. It also includes templates you can immediately put to use in your own portfolios, programs, and projects.

Table of Contents

Context for Change

Why Change?

Triggers for Change

The Impact of Change

It All Commences with Strategy!

Project Portfolio Management

Starting Point for Portfolio Definition

Strategic Positioning of Organizations

Boston Consulting Group (BCG ) Matrix—Application

Setting Up of Performance Targets

Strategy Evolution

Organizational Vision, Mission, and Strategic Objectives

Environmental Scanning and Competitive Strategies

Application of Balanced Scorecard (BSC) to Portfolio Management

Balancing the Portfolio

Portfolio Definition and Management—Roles and Responsibilities

Portfolio Definition and Implementation—Key Steps

Portfolio Funding

Portfolio Optimization

Portfolio Implementation

References

The Core of Program Management—Benefits Management

Program Management—The Context of Benefits Management

Benefits Map

Multiple Ways a Program Can Come About in an Organization

Program Mandate

Program Governance Board

Program Lifecycle—Phases

Program Initiation Phase

Program Stakeholder Engagement

Program Definition Phase

Program Execution Phase

Program Closure Phase

Project Management—Delivery Enabler for Change

Project Management—Context

Project Management—Major Processes

The Project Charter

Project Stakeholder Engagement

Requirements Management

Project Work Breakdown Structure (PjWBS)

Project Schedule Development

Project Cost Baseline

Scope Change Requests and Managing Change

Project Quality Management Plan

Project Communications and Risk Management Plans/Risk Management Flow

Procurement Management and Staffing Management Plans

Project Setup End-Deliverable: Project Management Plan Finalization

Assessing Project Viability

Project Delivery Process

Project Progress Monitoring Process

Project Closing Process

Change Initiative Integration into Operations—Transition Management

Introduction to Transition Management

Pre-transition Step

Transition Step

Post-transition Step

Change Management and Stakeholder Engagement

Significance of Change Management and Stakeholder Engagement

How Change Gets Triggered Off?

Enabling Changes from Enterprise-Wide Transformation Initiatives—Stakeholder Classification

Grouping of Stakeholders and Developing Stakeholder Response Stances

Why It Is Difficult to Change Stakeholders? Or Stakeholder Views? 1

Applicability of Change Management Models in Driving Change Initiatives

The Ways in Which Different Organizations Work

Change Management Roles

Summary References

Benefits Management—Link between Portfolio and Program Management

What Is Benefits Management?

What Are the Practical Issues Concerning Benefits Management?

Benefits Identification

Benefits Quantification

Planning to Obtain the Benefits

Realizing, Tracking, and Sustaining the Benefits

Benefits Management from the Portfolio Management Perspective

Setting Up and Running an Enterprise Project Management Office (EPMO)

Why an EPMO?

What Is an EPMO?

What Would Be the Structure of a Full-Fledged EPMO?

The Centralized Portfolio Office (PfO)/Nodal Offices

Center of Excellence (COE) Functions and Services

Temporary Project/Program Offices

How Is the EPMO Set Up?

Run the EPMO Implementation Program and Its Closure

Setting Up and Running the PMOs for a Specific Change Initiative

Challenges Facing the EPMO and Their Possible Remedial Measures

Enhancing the Organizational P3M Maturity

PM Maturity Model—An Overview

An Integrated Case Study—Application of Project Portfolio Management

Background: The Company—AXN Corporation

Management Structure—AXN Corporation

Triggers for Change

How AXN Corporation Went About the Change?

"Top-Down" Change—How Did AXN Go About It?

Reconciling with the "Bottom-Up" Approach

Balancing and Deploying the Portfolio

Program Management—Execution

Program Execution—Interfacing with Project Management

Program Closure

How Projects in AXN Were Managed—Salient Points

How AXN Enhanced Project Management Competency

Portfolio Management Implementation—A Retrospective

References

Appendix: Structure of Major Portfolio, Program, and Project Artifacts

Portfolio Governance Framework

Portfolio Implementation Plan

Program Mandate

Program Charter

Program Scope Baseline

Program Benefits Realization Plan

Program Benefit Card

Program Benefits Management Strategy

Program Communications Management Plan

Program Risk Management Plan

Program Risk Register

Program Financial Management Plan

Program Quality Management Plan

Program Resource Management Plan

Program Component List

Program Transition Plan

Program Governance Plan

Program Management Plan

Program Target Operating Model

End Program Report

Project Charter

Project Business Case

Project Scope Management Plan

Project Cost Management Plan

Project Quality Management Plan

Project Resource Management Plan

Configuration Item Record

Project Management Plan

Team Progress Report

Project Progress Report

End Project Report

Glossary

Suggested Reading

Index

About the Author

Ramani S has over 25 years of experience in the technology and management consulting industry, spanning project, program, and portfolio management; management consulting (with PwC Consulting); Information Technology strategy/portfolio development; and client relationship management. He has successfully managed many large projects/ programs relating to ERP implementations, business-systems integration, and IT strategy development. Prior to consulting for PwC, Ramani managed technology and application services for numerous clients, including non-profit organizations. He has also handled portfolio, program, and project management workshops for large transnational clients in multiple countries.

Ramani currently manages his own company, GRT Consulting LLP, which specializes in project, program, and portfolio management related consulting and training. Ramani is among the very few global professionals who are accredited in project, program, and portfolio management certifications, from both PMI and from AXELOS frameworks.

About the Series

Best Practices in Portfolio, Program, and Project Management

Learn more…

Subject Categories

BISAC Subject Codes/Headings:
BUS101000
BUSINESS & ECONOMICS / Project Management
COM032000
COMPUTERS / Information Technology
TEC009000
TECHNOLOGY & ENGINEERING / Engineering (General)